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MakcuM [25]
3 years ago
14

Suppose you deposit $2,454.00 into an account today. In 6.00 years the account is worth $3,868.00. The account earned ____% per

year.
Business
1 answer:
Feliz [49]3 years ago
8 0

Answer:

Interest rate, R = 26%.

Explanation:

<u>Given the following data;</u>

Principal = $2,454.00

Simple interest = $3,868.00

Time = 6 years

To find the interest rate?

Mathematically, simple interest is calculated using this formula;

S.I = \frac {PRT}{100}

Where;

  • S.I is simple interest.
  • P is the principal.
  • R is the interest rate.
  • T is the time.

Substituting into the equation, we have;

3868 = \frac {2454*R*6}{100}

Cross-multiplying, we have;

3868 * 100 = 14724*R

386800 = 14724R

R = \frac {386800}{14724}

<em>Interest rate, R = 26.27 ≈ 26%</em>

<em>Therefore, the account earned 26% per year. </em>

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Answer:

A higher operating income will result under absorption costing

Explanation:

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3 years ago
If you have reconciled an account before, you need all of this information except _____ to reconcile a bank account.
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When a bank account is reconciled, then it means that the bank transactions are checked and compared to the bank statement to be sure that the inflows and outflows tallies and are accurate.

Basically, the steps to reconciling an account are as follows:

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Please note that your question is incomplete so I gave you a general overview to help you better understand the concept.

Read more about bank statements here:

brainly.com/question/15525383

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